B.L. Kashyap and Sons spurts after stake-buy from a mutual fund

B.L. Kashyap and Sons was locked at 20% upper circuit at Rs 12.96 at 10:23 IST on BSE after HDFC Mutual Fund bought 14.20 lakh shares at Rs 9.20 per share in a bulk deal on BSE on Tuesday, 9 September 2014.

Meanwhile, the S&P BSE Sensex was down 121.67 points or 0.45% at 27,143.65.

On BSE, so far 1.80 lakh shares were traded in the counter as against average daily volume of 3.10 lakh shares in the past two weeks.

The stock opened with an upward gap surging by the maximum permissible level of 20% and remained locked at 20% level at Rs 12.96 so far in the day. The stock had hit a 52-week high of Rs 13.08 on 26 May 2014. The stock had hit a 52-week low of Rs 5 on 25 November 2013.

HDFC Mutual Fund bought 14.20 lakh shares at Rs 9.20 per share in a bulk deal on BSE on Tuesday, 9 September 2014. Ajay Ashok Shah sold 14.53 lakh shares at Rs 9 per share in this bulk deal.

B.L. Kashyap and Sons reported a net loss of Rs 15.55 crore in Q1 June 2014, higher than net loss of Rs 1.74 crore in Q1 June 2013. Net sales declined 48.4% to Rs 173.69 crore in Q1 June 2014 over Q1 June 2013.

B.L. Kashyap and Sons is a construction and infrastructure development company.

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